Belgium Economic Sentiment

Belgium

Belgium: Business confidence and consumer confidence improve in June

June 24, 2015

The business confidence index elaborated by the National Bank of Belgium (NBB) rose from May’s minus 4.9 points to minus 3.9 points in June. The reading overshot market expectations of a fall to minus 5.1 points and marked the highest reading since July 2011. According to the NBB, the result was due to a rise in confidence in the manufacturing and building industries, as well as in business-related services. However, a sharp deterioration in confidence was recorded in the trade sector.

The consumer confidence index elaborated by the NBB also rose from May’s minus 3.0 points to minus 2.0 points in June. The result marked the highest reading since May 2011. According to the NBB, the result came largely on the back of renewed optimism regarding macroeconomic developments in the country. In addition, consumers’ views on unemployment over the next 12 months improved in June.

FocusEconomics Consensus Forecast panelists expect fixed investment to expand 0.9% in 2015, which is down 0.3 percentage points from last month’s projection. For 2016, the panel sees fixed investment growing at 2.2%. FocusEconomics panelists expect private consumption to grow 1.4% in 2015, which is up 0.1 percentage points from last month’s estimate. For 2016, the panel expects private consumption to grow 1.4%.

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Belgium Economic Sentiment Chart


Belgium Economic Sentiment June 2015

Note: Business and Consumer Confidence Indicators.
Source: National Bank of Belgium (NBB).


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